701 Pennsylvania Avenue NW
UrbanTurf has been analyzing the home price data of a number of zip codes around the region over the past few months. A full rundown of those that we have covered is listed below.
This week, we examine 20004, the small, downtown zip code that encompasses much of Penn Quarter. It is roughly bounded by 6th Street NW on the east, G Street NW on the north, 15th Street NW on the west and the National Mall on the south.
The area’s limited residential real estate activity exists almost solely in the realm of condos and co-ops. The number of townhouses and detached homes that have sold in the past decade could probably be counted on two hands.
The condo and co-op market has been a little uneven over the last decade. While the number of units sold more than doubled between 2002 and 2012, from 22 to 51, and the median sales price has increased significantly, sales and prices this year are lower when compared to the market five years ago. By December 2007, 14 more units had sold than thus far in 2012 and when accounting for inflation, the median sales price was $30,000 higher.
This article is based on data provided by RealEstate Business Intelligence (RBI), a primary source of real estate data, analytics and business intelligence for real estate professionals with business interests in the Mid-Atlantic region.
- Home Price Watch: Steadily Increasing Prices in Takoma Park
- Home Price Watch: The Condo Heavy Market of 20005
- Home Price Watch: Steadily Increasing in Del Ray
- Home Price Watch: Rowhouses in the H Street Corridor Double in Price
- Home Price Watch: Homes Hot, Condos Not in Upper NW
- Home Price Watch: Low Prices in Woodridge and Langdon
- Home Price Watch: Potential for More in Southwest Waterfront
- Home Price Watch: Posh Houses and Affordable Condos in 20008
- Home Price Watch: Spending $1 Million is the Norm in Georgetown
- Home Price Watch: Flying Off the Market in 20009
- Home Price Watch: Doubling in a Decade in Bloomingdale and LeDroit
- Home Price Watch: Adjusting for Inflation in Chevy Chase DC
- Home Price Watch: The Last 10 Years on the Hill
This article originally published at http://dc.urbanturf.com/articles/blog/home_price_watch_a_growing_number_of_condos_in_penn_quarter/6426
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